Pension Consolidation

A clear, advice-led review to assess whether combining your pensions is in your best interests.

Request Your Consolidation Review

Not all pensions should be consolidated. We check for valuable benefits (e.g., guaranteed annuity rates, protected tax-free cash, GMP/with-profits guarantees), exit charges, and transfer restrictions before making any recommendation.

What we cover in a consolidation review

Locate and value all existing pension pots; confirm contributions and employer links.
Analyse current charges (provider, platform, fund) and value for money.
Review underlying investments, risk level and lifestyling/glidepath settings.
Benchmark recent performance where appropriate.
Identify safeguarded benefits & protections (GARs, GMP, protected PCLS, guarantees).
Check exit terms, market value reductions and transfer penalties.
Compare receiving scheme options (platform/provider), costs and functionality.
Tax & timing considerations (PCLS, crystallised vs uncrystallised funds, MPAA triggers).
Clear recommendation: keep as is, partial, or full consolidation — with rationale.
Implementation steps and optional ongoing review service.

Questions? Email info@purelypensions.co.uk or call 01904 954110

What Your Report Contains

1

Scope & Important Information

Purpose, limitations and when consolidation may or may not be suitable.

2

Your Pensions — Overview

Schedule of plans, providers, policy numbers and statuses.

3

Current Values & Contributions

Latest valuations, contribution history and any guarantees linked to dates/ages.

4

Costs & Charges

Provider/platform fees, fund OCFs and transaction costs with comparison tables.

5

Benefits & Protections

GARs, GMP, protected PCLS, with-profits, bonuses and other scheme-specific features.

6

Investment Holdings & Risk

Asset mix, lifestyling, risk alignment and ESG options if relevant.

7

Performance & Benchmarking

Historic performance where appropriate vs relevant benchmarks.

8

Exit Terms & Restrictions

Transfer penalties, MVRs, notice periods, disinvestment rules.

9

Recommended Receiving Scheme (if suitable)

Due diligence, costs, functionality, and investment selection.

10

Tax & Timing Considerations

PCLS, allowance interactions, sequencing and crystallisation choices.

11

Implementation Plan & Timescales

Paperwork, transfers, sequencing of switches and expected timeline.

12

Ongoing Service & Annual Review

What we'll monitor and review frequency (typically once a year).

What we'll need from you

  • Latest pension statements or online screenshots for each plan.
  • Policy/account numbers and provider contact details.
  • Any CETVs (if available), scheme booklets and details of guarantees.
  • Signed Letter(s) of Authority so we can verify details with providers.
  • Your objectives (e.g., simplification, lower costs, investment choice) and timescales.

Key risks to understand

  • Loss of valuable guarantees or protections if you transfer without advice.
  • Exit penalties or market value reductions reducing transfer values.
  • Investment risk and sequencing risk when moving between funds.
  • Administrative delays from providers affecting timing.

We will highlight any of these in your report and may recommend not consolidating where appropriate.

Considering pension consolidation?

We'll assess costs, investments, guarantees and exit terms — and only recommend consolidation if it's right for you.

Request Your Review

Information on this page is not personal advice.